For Immediate Release

Contact(s):
  Patrick Pedonti
  Chief Financial Officer
  Tel: +1-860-298-4738

  Lese Amato
  Investor Relations
  Tel: +1-860-298-4653
  E-mail: InvestorRelations@sscinc.com

WINDSOR, CT - October 16, 2003 — SS&C Technologies, Inc. (Nasdaq: SSNC) today announced results for the quarter ended September 30, 2003. Revenues were $16.0 million compared with $15.1 million for the third quarter of 2002. Net income was $3.0 million, or $0.23 diluted earnings per share, compared with $2.1 million, or $0.16 diluted earnings per share, for the third quarter of 2002. The nine-month revenue numbers were $47.7 million and $46.2 million and nine-month net income was $8.1 million, or $0.61 per diluted share, and $4.7 million, or $0.34 per diluted share, for '03 and '02, respectively.

"We are pleased to have strong operating results for the 10th straight quarter," remarked CEO Bill Stone. "Our operating income increased to $4.6 million, a record high, up 38% over last year's third quarter and 276% over Q3 '01. Recurring revenues, which include maintenance and outsourcing revenues, increased to $11.3 million in Q3, a 14% increase over last year. Our recurring revenue stream continues to improve and we are particularly pleased with our outsourcing revenue, which now represents approximately 20% of our revenue."

"The quality of our earnings can be seen in the impressive cash flow we generate from operations," said Stone. "We generated $6.7 million in cash from operations this quarter and year-to-date operating cash flow is $16.4 million, a 44% increase over 2002. These cash flow numbers represent $0.51 and $1.24 per diluted share, respectively."

"Currently, we are forecasting Q4 2003 revenues to be in the range of $16 to $18 million and net income to be between $0.23 and $0.26 per diluted share," stated Stone.

Proposed Acquisition Will Contribute to Recurring Revenues and Strengthen Hedge Fund Business
"This week we announced the execution of a non-binding agreement to acquire the fund administration business of Amicorp Fund Services N.V., a wholly owned subsidiary of Amicorp Holding Ltd. This fund administration business, based in Curacao, the Netherlands Antilles, serves the hedge fund community with both on and offshore services. We are excited about getting deeper into the growing hedge fund industry. SS&C will operate the fund administration business, to be renamed SS&C Fund Services, within our Hedge and Family Office market vertical. We anticipate that this acquisition, which is subject to the negotiation and execution of a definitive agreement and the completion of certain regulatory applications, will close in November 2003. We believe we have premium services to offer the hedge community and this acquisition will help round out our offering."

Earnings Call
SS&C's Q3 2003 earnings call will take place at 5:00 p.m. Eastern Time today, October 16, 2003. Interested parties may dial 706-643-7858 (US, Canada and International) and request the "SS&C Third Quarter Earnings Call", conference ID #3185020. A replay will be available after 8:00pm until October 31, 2003. To access, dial 706-645-9291 and enter the access code 3185020. A replay of the call will also be available after October 17, 2003 on our website at www.ssctech.com/about/earnings.asp.

This press release contains forward-looking statements relating to, among other things the Company's expected revenues and earnings per share for the fourth quarter of 2003, and the anticipated acquisition by the Company and the anticipated effect of the acquisition on the Company. Such statements reflect management's best judgment based on factors currently known but are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, but are not limited to, the Company's ability to finalize large client contracts, fluctuations in customer demand for the Company's products and services, intensity of competition from other application vendors, delays in product development, the Company's ability to control expenses, general economic and industry conditions, terrorist activities, the company's ability to complete the acquisition and integrate the acquired business, the effect of the acquisition on customer demand for the Company's products and services, those liabilities acquired in connection with the acquisition, and those risks described in the Company's filings with the Securities and Exchange Commission, including without limitation, the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2003. SS&C cautions investors that it may not update any or all of the foregoing forward-looking statements.

Click here to view the financial earnings statement in PDF format.

About SS&C Technologies
SS&C delivers investment and financial management software and related services focused exclusively on the financial services industry. With a global client base that manages over $4 trillion in assets, each of the products in SS&C's suite of highly specialized solutions is in the top tier of competitive offerings in the marketplace. By leveraging expertise in common investment business functions, SS&C cost-effectively serves clients in the different industry segments, including: 1) commercial lending, 2) financial institutions, 3) hedge funds and family offices, 4) insurance entities and pension funds, 5) institutional asset management, 6) municipal finance and 7) real estate property management. SS&C is publicly traded on NASDAQ under the symbol "SSNC". Additional information is available at www.ssctech.com.